Lucas Capital Management reduced its position in Pembina Pipeline Corp. (NYSE:PBA) by 20.1% during the second quarter, Holdings Channel reports. The institutional investor owned 23,670 shares of the company’s stock after selling 5,950 shares during the period. Lucas Capital Management’s holdings in Pembina Pipeline Corp. were worth $718,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc raised its position in Pembina Pipeline Corp. by 6.4% in the first quarter. Legal & General Group Plc now owns 1,577,210 shares of the company’s stock worth $42,810,000 after buying an additional 95,256 shares in the last quarter. AMP Capital Investors Ltd raised its position in Pembina Pipeline Corp. by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 615,898 shares of the company’s stock worth $16,566,000 after buying an additional 26,616 shares in the last quarter. Sentry Investments Corp. raised its position in Pembina Pipeline Corp. by 51.5% in the first quarter. Sentry Investments Corp. now owns 1,864,055 shares of the company’s stock worth $65,447,000 after buying an additional 633,850 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Pembina Pipeline Corp. during the first quarter worth approximately $3,395,000. Finally, UBS Asset Management Americas Inc. raised its position in Pembina Pipeline Corp. by 8.2% in the first quarter. UBS Asset Management Americas Inc. now owns 844,317 shares of the company’s stock worth $22,917,000 after buying an additional 63,778 shares in the last quarter. 46.58% of the stock is currently owned by institutional investors.
Pembina Pipeline Corp. (NYSE:PBA) traded down 0.85% on Tuesday, reaching $30.27. The company’s stock had a trading volume of 102,324 shares. Pembina Pipeline Corp. has a 52-week low of $17.88 and a 52-week high of $32.31. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 36.96 and a beta of 0.68. The firm’s 50-day moving average price is $30.33 and its 200-day moving average price is $29.42.
Pembina Pipeline Corp. (NYSE:PBA) last issued its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.05. The business earned $1.03 billion during the quarter, compared to analyst estimates of $1.50 billion. Pembina Pipeline Corp. had a net margin of 10.63% and a return on equity of 7.13%. The company’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. On average, equities analysts expect that Pembina Pipeline Corp. will post $0.87 earnings per share for the current year.
The firm also recently announced a sep 16 dividend, which will be paid on Saturday, October 15th. Shareholders of record on Sunday, September 25th will be issued a $0.16 dividend. This represents a dividend yield of 4.93%. The ex-dividend date of this dividend is Wednesday, September 21st. Pembina Pipeline Corp.’s dividend payout ratio is presently 179.27%.
A number of research firms have commented on PBA. Zacks Investment Research lowered Pembina Pipeline Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. Canaccord Genuity reissued a “buy” rating on shares of Pembina Pipeline Corp. in a research note on Thursday, September 8th. Credit Suisse Group AG lowered Pembina Pipeline Corp. from an “outperform” rating to a “neutral” rating in a research note on Monday, June 20th. National Bank Financial downgraded Pembina Pipeline Corp. from an “outperform” rating to a “sector perform” rating in a research report on Monday, July 18th. Finally, RBC Capital Markets restated an “outperform” rating and set a $45.00 target price (up previously from $42.00) on shares of Pembina Pipeline Corp. in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $41.75.
Pembina Pipeline Corp. Company Profile
Pembina Pipeline Corporation (Pembina) is a transportation and midstream service provider. The Company operates through four segments: Conventional Pipelines, Oil Sands & Heavy Oil, Gas Services and Midstream. Pembina owns and operates an integrated system of pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) and natural gas liquids (NGL) produced in western Canada and ethane produced in North Dakota.
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